Zillow Group, Inc. $Z Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Zillow Group, selling 317,081 shares and owning just 31,548 shares, representing a 91.0% decrease in holdings.
• Recent analyst reports have generally been positive, with price targets raised by JPMorgan Chase & Co. to $94.00 and Bank of America to $88.00, indicating a consensus rating of "Moderate Buy".
• Insiders have sold a total of 657,087 shares worth approximately $56.3 million in the last 90 days, reflecting a shift in ownership dynamics at Zillow Group.

Assenagon Asset Management S.A. trimmed its holdings in Zillow Group, Inc. (NASDAQ:Z - Free Report) by 91.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,548 shares of the financial services provider's stock after selling 317,081 shares during the period. Assenagon Asset Management S.A.'s holdings in Zillow Group were worth $2,210,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. IFP Advisors Inc raised its position in shares of Zillow Group by 288.9% during the 1st quarter. IFP Advisors Inc now owns 455 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 338 shares in the last quarter. National Pension Service raised its position in shares of Zillow Group by 74.8% during the 1st quarter. National Pension Service now owns 577 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 247 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Zillow Group by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 607 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 196 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Zillow Group during the 1st quarter valued at approximately $49,000. Finally, Parallel Advisors LLC raised its position in shares of Zillow Group by 141.8% during the 1st quarter. Parallel Advisors LLC now owns 1,678 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 984 shares in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on Z. JPMorgan Chase & Co. upped their price target on Zillow Group from $79.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Bank of America upped their price target on Zillow Group from $81.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein raised Zillow Group from a "market perform" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.38.

Zillow Group Price Performance

Shares of Z opened at $77.75 on Friday. The company has a market cap of $18.84 billion, a P/E ratio of -299.04, a PEG ratio of 22.00 and a beta of 2.04. The stock has a fifty day moving average price of $83.50 and a 200 day moving average price of $73.86. Zillow Group, Inc. has a 12 month low of $57.00 and a 12 month high of $93.88.

Insider Activity

In related news, CTO David A. Beitel sold 22,510 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $90.97, for a total transaction of $2,047,734.70. Following the completion of the transaction, the chief technology officer directly owned 144,549 shares in the company, valued at $13,149,622.53. This represents a 13.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jun Choo sold 45,710 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $85.21, for a total value of $3,894,949.10. Following the transaction, the chief operating officer owned 117,098 shares of the company's stock, valued at approximately $9,977,920.58. The trade was a 28.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 657,087 shares of company stock worth $56,286,479 over the last 90 days. Insiders own 25.03% of the company's stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.

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